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300 Days of AO! Latest Updates Summary | 2024.12.31

Validated Project

Author: Kyle

Translator: Kyle

Reviewer: Marshal Orange

Source: Content Guild Translation


Originally published at: PermaDAO

Original link: https://permadao.com/300-Days-of-AO-Latest-Updates-Summary-2024-12-31-f992118bfbde4e688bd9cc1880febbd9


1. Arweave & AO Network Overview

Arweave Network Surpasses 10 Billion Transactions

Source: ViewBlock

Data as of: December 31, 2024

On October 16, 2024, Arweave reached the milestone of 10 billion transactions. By December 31, the total number of transactions had increased to 12.4 billion. Since the second half of 2024, the network has been growing at a rate of 900 million transactions per month.

Previously, it took 454 days for the network to grow from 100 million to 1 billion transactions. Now, it only took less than 30 days to grow from 9 billion to 10 billion transactions. Additionally, the Endowment also surpassed 100,000 $AR during this period, further demonstrating the network's rapid growth.

AO Network Message Volume Continues to Accelerate

Source: AOLink

Data as of: December 31, 2024

On December 13, 2024, AO reached the milestone of 1 billion messages. By December 31, the total number of messages on the AO testnet had accumulated to 1.26 billion.

From September 18 to December 31, AO added 700 million messages, with an average of 6.73 million messages per day, setting a new daily growth record (compared to 4.24 million messages per day from July 10 to September 18). In terms of network activity, the number of daily active users has generally remained above 10,000 in recent times.

Bridged Assets and AO Token Minting Status

Source: https://ao.arweave.net/#/mint

Data as of: December 31, 2024  

According to the dashboard data:

  • 2,854,493.59 $AO has been minted, accounting for 13.6% of the total supply.
  • The total amount of $stETH deposited is 129,268.95, with a total value of approximately $430 million.
  • The total amount of $DAI deposited is 142,171,223, with a total value of approximately $140 million.
  • The total value of bridged assets is nearly $600 million, with $stETH accounting for 75.4% and $DAI accounting for 24.6%.

Arweave Protocol Upgrade

The Arweave protocol activated version 2.8.0 at block height 1547120 on November 13, 2024, at 14:00 UTC. This update introduced a composite bundling mechanism, adjustments to the block header format, price mechanism optimizations, and performance improvements. These changes are aimed at enhancing network efficiency, reducing resource consumption, and increasing system stability.

In mid-December, the Arweave 2.9.0 version was released, further lowering the hard drive threshold and improving network efficiency. However, the Arweave 2.9.0 release is considered an early adopter and will officially activate on February 3, 2025, at 14:00 UTC.

2. AO Ecosystem Overview

Compared to the previous version of the ecosystem overview, over the course of more than 100 days, the AO ecosystem has added over 40 new projects. Notably, the growth in tracks such as Infra, Developer Tools, and Game has been particularly significant.

3. Project Overview and Analysis by Track

DeFi

Permaswap has seen rapid development in recent months, with its business focus fully transitioning to the AO ecosystem. The project has become completely open-source and fully decentralized, allowing anyone to list tokens and add liquidity. Permaswap has launched tokens such as $Kredit, $qAR, $NAB, $BP, and $PIXL, and introduced features like multi-hop trading and spot order books, providing liquidity for users through multiple channels. At the same time, Permaswap has initiated LP farming compaign for trading pairs such as wUSDC/wAR, Kredit/wAR, and tARIO/wAR, encouraging users to participate in liquidity mining.

In response to this growth, the Permaswap team launched the FusionFi protocol as a unified framework for financial agents, exploring the financial scenarios and possibilities of AgentFi.

Since its launch, the FusionFi Protocol (FFP) has been fully open-source and operates independently from Permaswap, aiming to become a public product on AO. It provides tools like blueprints and SDKs to help developers get started quickly. In fact, not only Permaswap but also projects like Lagent and LLama Land have already adopted the FFP framework. FFP has also released a tokenomics model, with plans to build an ecosystem of FFP-based projects in the future.

Autonomous Finance has also made significant moves, launching two products: Botega and CoinBurner. Botega is a DEX that supports advanced trading functions like DCA (Dollar-Cost Averaging) and stop-loss orders. Since its launch, Botega has actively listed AO ecosystem tokens and liquidity pools while also distributing $AGENT airdrops. As a new DEX, Botega has received positive market feedback, both in terms of trading volume and user participation. CoinBurner, on the other hand, is a token burn platform that supports token burn record queries and verifications.

Aolotto is the first decentralized lottery protocol on AO, officially launching on January 1, 2025. Its slogan is "$1 on-chain lottery." Through the innovative Bet2Mint mechanism, $ALT is fairly distributed to community members who participate in the betting process. Aolotto has also partnered with AOX and Typr. Users can easily mint $wUSDC for betting via AOX, and they can receive lottery announcements on Typr.

Lagent is a newly launched lending platform powered by AI agents, with fully customizable lending rules by the users. While its product details are yet to be released, its official website is already live. Additionally, Lagent has partnered with AOX, allowing assets (wAR, wUSDC) to be cross-chain bridged to the AO ecosystem and preventing idle assets.

aoVest has launched its testnet and introduced the Classic Airdrop feature. It plans to gradually release features like Conditional Airdrops, atomic asset trading, and the issuance of a platform token.

Veritas has also launched its official website, unveiling an on-chain analytics dashboard that currently covers most ecosystem projects. In the future, it will introduce an on-chain data-driven analysis and prediction market.

BazAR, in collaboration with AO, has issued a set of atomic assets called Omega One to incentivize users to bridge $DAI to AO. Moreover, BazAR has maintained high user engagement, largely driven by the traffic from Dumdumz NFT. During this period, BazAR also launched several new NFTs, including the Cyberbeavers series by ao Builders and the AO WAR series created by FUDBear.

Wallet

ArConnect has performed exceptionally well in Q4 2024, with continuous product iterations and the rollout of new features like "Print to Arweave" and subscription options. Additionally, the total number of wallet addresses surpassed 250,000. The most notable update was the release of the ArConnect mobile app, which significantly improved the ecosystem user experience. With successive updates and optimizations, the mobile app's interaction experience is now approaching that of mainstream Web3 wallets, allowing users to easily and securely access most AO dApps.

aoWebWallet has also released a new version, introducing the Action Builder feature, which allows users to query process information by entering a process ID. Additionally, aoWebWallet now enables users to create and deploy their own tokens and offers the Meme Frames feature, allowing token minting, staking, and other actions.

Infra

AR.IO has been one of the standout projects during this period, not only launching the ArNS, which has been widely adopted across ecosystem projects, but also repositioning itself as the first Permanent Cloud Network. After attending the Permissionless event, the project seemed to gain significant momentum. On one hand, it strengthened its team, with Patrick joining and an ambassador recruitment program being launched. On the other hand, AR.IO has been proactively advancing project collaborations and incentive plans, including partnerships with Ewigkeit, KYVE, and Perplex, offering support for Turbo and SDK services. It also introduced the Gateway Operator incentive program. In terms of gateway node software, AR.IO has iterated from version 17 to the latest version 20, with a comprehensive feature upgrade. Additionally, AR.IO released its new white paper v2, changed its token symbol to $ARIO, migrated its smart contracts to AO, and completed an audit of its smart contracts through FYEO.

WeaveVM has been steadily progressing with the goal of acting as a bridge between various public blockchains and Arweave & AO. While it is not a high-profile project, its progress is highly commendable, as evidenced by its explosive growth in network transactions and wallet numbers. During this period, WeaveVM completed integrations with Optimism, SVM, SEDA, Substrate Chain, EigenDA, and Avalanche, connecting Arweave's storage functionality to major blockchain ecosystems, further expanding the possibilities for dApps. For WeaveVM itself, it launched a new Alphanet v3, significantly improving network performance, and introduced the rusty-ao Rust SDK, which allows developers to easily generate AO processes, fetch messages, and perform test calls within Rust applications.

everPay’s Everloot series reached its 9th round, which also happened to be the most rewarding one. This round encourages users to provide liquidity for wUSDC/wAR on Permaswap and participate in mining to share in rewards like $HALO and $tAOX, with the chance to win rare Dumdumz NFT. Additionally, everPay paused the deposit functions for tokens like $0RBT, $EXP, $TRUNK, and $wAR, guiding users to migrate their assets to AO.

RedStone remains active, continuing to expand its oracle ecosystem. It has established partnerships with multiple blockchains and over ten projects to provide price feed services, further growing its influence. The community remains vibrant, with the Memethon event entering its fourth season, encouraging the community to create meme content together.

WeaveDB’s team has launched several products, including ArNext (a development framework for Permaapps), PassAR (an event management platform), AOForge (CLI tool), Arche (AI Agent), and WAO (Wizard AO SDK). WeaveDB’s Nigerian branch team has been particularly active, not only developing new products but also collaborating with local universities and communities to expand its developer base.

0rbit has upgraded its architecture to AOS 2.0, simplifying the process of obtaining real-world data from AO processes. Primus has undergone a rebranding, officially changing its name from PADO to Primus. Its Primus Extension now has over 200,000 users, and it plans to launch a Developer Hub to facilitate integrations. RandAO, a newly launched cryptographic random number generator, has completed integration with Satoshi's Palace.

Developer Tools

Protocol.Land has provided extensive support for hackathon competitions within the ecosystem. Whether it was through the Builder Program event in collaboration with ao Ventures or the Arweave India Hacker House, Protocol.Land has been responsible for hosting the project code repositories, ensuring they are stored on Arweave. Additionally, it has partnered with Astro Labs to introduce $qAR for tokenized buyback protocols.

Arlink and Sentio are both projects that emerged from the Arweave India Hacker House. Arlink serves as a platform to simplify project deployment and was widely adopted by most projects in the Hacker House #3. Sentio introduced an audit vulnerability-checking feature and plans to offer trading bot monitoring services in the future.

Liteseed has optimized the data upload process to Arweave by fixing issues related to data formatting, Merkle tree verification, and gateway paths, while also enhancing system stability and improving documentation quality.

WAO is a newly launched SDK tool specifically designed for AO development, created by Tomo (founder of WeaveDB) during the Hacker House #3. It supports memory simulation, fast testing, message optimization, and simplified GraphQL operations.

Bridge

AOX launched a brand-new official website and introduced a dynamic fee mechanism, focusing on optimizing the user experience. Additionally, AOX has now integrated with CEXs, allowing users to transfer $USDC from CEXs to the AO network. Furthermore, AOX has partnered with projects such as LiquidOps, Outcome, and Aolotto to expand the use cases for $wAR and $wUSDC. As of now, the total minted amount of $wAR is 46,783, with 37,605 holders, while $wUSDC has a minted supply of 200,422 and 386 holders.

Quantum, released by Astro Labs, has launched its public test version and introduced a new $AR encapsulation standard—$qAR—which has already been adopted by several projects, showing strong trading volume. At the same time, Quantum has received updates to enhance its overall smoothness and security. Additionally, Astro Labs has formed a strategic partnership with Copper.co, integrating institutional-grade MPC infrastructure into Quantum, raising the bar for asset custody and liquidity management standards.

NFT

Dumdumz NFT has continued to attract attention in the market. Keystone not only supports compatibility but has also launched a limited edition Dumdumz hardware wallet. The Dumdumz team is also very active, releasing an ambitious roadmap while developing the Dumverse game and AOction House auction platform, continuously empowering the Dumdumz NFTs. During this period, Dumdumz NFT was highly sought after, with the floor price reaching as high as 50 $wAR, representing a 252x increase from the initial release price.

Meka Human, another project based on NFT elements, developed the Meka City game (which is exclusive to holders) and issued the $Kredit token, which was listed on Permaswap. Meka Human's market attention is second only to Dumdumz, with its floor price once reaching 7.8 $wAR, representing a 26x increase from the release price.

Hoodrats NFT is a relatively new atomic asset series created by Eltio and participated in the AOction House auction platform. This series has also garnered market interest, with the floor price once reaching 2.5 $wAR, representing a 25x increase from the release price.

AI

Llama Land has launched multiple new NPCs, including trading NPCs developed by Permaswap, a media company NPC developed by PermaDAO community developer txohyeah, the AI-driven Remember NPC, and the asset-exchangeable Llamaswap NPC, among others. Furthermore, Llama Land integrated the Vouch protocol to prevent bot users. By the end of December 2024, the total supply of $Llama tokens (11,111,111 tokens) was fully distributed through Llama King (driven by the Llama 3 model).

Apus Network has also made significant progress during this period, actively fostering partnerships with various projects and successfully concluding two competition pool activities, thus building a strong community foundation. Following continued product testing and optimization, Apus Network has released its Litepapers and launched a Token Generation Event (TGE). Users can mint $APUS by staking $stETH and $DAI, with over 500 $stETH and 250,000 $DAI currently staked.

Obtimus is a new AI twin survival game platform designed for $AR and $AO token holders. The platform generates an AI avatar for each user, allowing them to earn points through random battles. These points are used to distribute airdrops or rewards. Obtimus quickly gained market attention and established an active community. It later introduced a bonding curve mechanism, serving as the launchpad for $BCAT (Memecoin), and appears to be positioning itself as a pump.fun on AO.

Arche is a single AI developed by Mardeni, based on Meta's Llama-3.3-70B-Instruct model, and trained using historical data from Sam Williams' X account. It is known for its humorous and satirical style. If you're closely following the ecosystem dynamics, you'll likely encounter Arche in the comment sections of various projects. In the future, Arche plans to become a coding assistant, integrate with social channels, participate in DeFi ecosystems, and introduce an interactive tipping system.

Meme

BENCAT ($BCAT) may be the most popular memecoin on AO. Launched in late November, the project quickly captured attention by consistently posting cat-themed meme images and provocative text on X(Twitter). Of course, BENCAT's rapid rise wouldn't have been possible without the team's strong operational skills. They swiftly secured partnerships with several ecosystem projects and were frequently retweeted by AO's X account. Ultimately, $BCAT was listed on Permaswap, alongside a token airdrop. On launch day, $BCAT briefly caused a network congestion on Permaswap, and its market capitalization soared to $5.52 million.

NumberAlwaysBigger ($NAB) was launched almost simultaneously with BENCAT. Users could earn $NAB by staking $wAR or $qAR or by providing liquidity on decentralized exchanges like Permaswap and Botega. In addition, NumberAlwaysBigger introduced its first $NAB quest, where users could earn $NAB by obtaining and staking $FRP points.

Social

DecentraMind not only continues to optimize its product features but also actively promotes multiple partnerships. Projects like Veritas, CryptoGo, Trends, Permaverse, and Apus Network have already joined. Additionally, DecentraMind has released several bounty tasks, using a comprehensive rating system to accurately distribute rewards to community contributors, thereby enhancing both the activity and quality of community contributions.

Typr has introduced the concept of "Social Agent", aiming to build a large, agent-driven social network. Typr has already partnered with projects like AOX and Aolotto and has become one of the official platforms for releasing Aolotto lottery announcements. In the future, Typr plans to develop a voting feature and integrate it into the Story section, providing more interaction and creation support for both creators and users.

Game

Cyber Beavers, developed by ao Builders, has launched its Asian node, specifically serving Asian users during designated hours. Subsequently, Cyber Beavers also experimented with a 24/7 mode to allow players to enjoy the game at any time. The game introduced a new HORDE mode, supporting up to 10 players in cooperative missions with a no-friendly-fire mechanism, enhancing the game's playability.

The metaverse platform The-Loom launched The Knight Fall, a multiplayer platformer game. Additionally, The-Loom released LoomSDK, a tool that connects Unity and AO, assisting in game development on AO.

Permaverse remains highly active, with over 12,000 registered users and 4,000 daily active users. Permaverse has also launched the Unity SDK, offering new tools for creating 3D autonomous worlds on-chain. Notably, the platform is about to kick off the $DUMDUM airdrop.

Community Labs has invested in the gaming platform Basejump, which will launch an AI-driven game in early 2025. Additionally, developer davidkong announced that StarGridBattle, a new game, will launch in the second quarter of 2025.

Incubator / Community

PermaDAO underwent a significant transformation during this period, shifting from a grant-based service DAO to a profit-oriented organization focused on ecosystem incubation. Over the past two years, PermaDAO has attracted 728 members, published over 1,300 articles, and organized more than 300 events, injecting considerable energy into the Arweave/AO community. Moving forward, PermaDAO will adopt a new identity, providing community-driven incubation services to the ecosystem.

Arweave India has not only successfully hosted three Hacker House hackathons but also supported builders through offline meetups, Founder's Camps, and other events, providing technical and resource assistance. These efforts have effectively fostered communication and collaboration among community members. Furthermore, Arweave India has partnered with Protocol.Land, Astro Labs, and other projects, offering more support and opportunities for future hackathons.

Arweave Philippines is steadily expanding its influence. In addition to hosting multiple webinars, the community has initiated Builders' Meet events and participated in the IT Week at Bulacan State University. These activities have provided local developers with opportunities for collaboration and helped promote the adoption and application of Arweave technology in the Philippines.

Weavers has actively promoted ecosystem development through events and content, launching the WeaveCast podcast series and successfully hosting the second PermaHacks hackathon. Details of PermaHacks will be shared in the hackathon section.

Additionally, Arweave Japan and Arweave New York communities have been established, aiming to bring together builders, innovators, and creators from Japan, New York, and the surrounding regions to advance the technology development of Arweave and its ecosystem.

4. Major Events (Hackathons, Podcasts)

PermaHacks

PermaHacks is an online hackathon organized by Weavers, with AO's official support and collaboration from multiple projects, including WeaveVM, Astro, AR.IO, BazAR, BetterIDEa, and 0rbit. A total of 7 bounty tasks were released, offering a total prize pool of $22,500. After two weeks of discussions and building, 8 winning projects were selected:

  • Everlink: A decentralized link management platform based on Arweave, similar to Linktree.
  • Qpay: A customer-facing decentralized payment app that utilizes $qAR for fast and secure payments on the AO network.
  • Qbit-pay: A decentralized payment solution based on AO, inspired by payment platforms like Solana Pay.
  • Secrettory: A decentralized secret management tool built on the AO network, designed for teams to securely share passwords, API keys, and other sensitive information.
  • Iris: A decentralized short video platform based on WeaveVM, similar to TikTok, allowing content creators to upload short videos and receive tips from users.
  • WeaveMint: An Arweave-based NFT minting platform that offers efficient and gas-free NFT minting services.
  • Better IDEa Copilot and Composer: An integrated AI assistant for coding within BetterIDEa, designed to enhance developer efficiency.
  • Junction: A tool for creating link pages based on AO, featuring permanent storage, memorable domain names, data analytics, and tipping functions.
  • Bazar NFT Awards: Crown of Lies, Permagirl and Permbird, Founder Map.

Arweave Fullstack Hackathon

Arweave Fullstack Hackathon, co-hosted by Only Arweave and the official team, required participants to have at least 50% newcomers to the ecosystem and to develop projects using Arweave, AO, or ArFleet technologies. Excellent projects not only had the chance to win prizes but also potentially receive additional equity funding from the official team. The event attracted over 300 participants, with 30 projects submitted, and 5 winning projects were selected:

  • A() Labs: A cross-chain platform based on zero-knowledge proofs, connecting EVM and AO networks.
  • Dumpet: A decentralized betting platform where users can bet on any event.
  • aoMuseum: A history record storage platform based on Arweave.

The other two winning projects, Junction and Qpay, were also among the winners in the previous PermaHacks hackathon.

Arweave India Hacker House

Arweave India holds a Hacker House hackathon for each session, gathering 30 developers and designers who form 3-person teams to develop projects. During this period, Arweave India successfully held the Demo Day for the second Hacker House session, showcasing four relatively mature projects:

  • ARlink: A platform simplifying PermaWeb deployment, providing one-click hosting services for developers.
  • Veritas: A fair-launch funding platform focused on community-driven token issuance and project analysis.
  • aoVest: An automated token distribution platform supporting minting, releasing, and airdrops.
  • Sentio: A code auditing platform offering real-time monitoring features.

Additionally, Arweave India's third Hacker House just concluded, incubating 8 new projects, which are:

  • Hagrid: A decentralized search engine.
  • AO Learn: A decentralized machine learning framework.
  • Ctrl Play: A classic game platform with social features.
  • Anon: An AI-powered full-stack DApp generator.
  • EduMint: A short video platform targeting education.
  • AOplay: An on-chain game marketplace.
  • Kapsul: An on-chain API aggregation platform.
  • Ark: A search engine and data exploration platform.

Protocol.Land Builder Program

The Builder Program is a development initiative co-hosted by Protocol.Land and ao Ventures, aiming to encourage developers to leverage Protocol.Land and Arweave technologies to build projects and issue tokens. Three excellent projects emerged from this program:

  • Perma Butler: A storage platform based on Arweave that triggers storage through tweet tagging.
  • Jobsy: A job recruitment platform using LLM technology to match individuals with employers.
  • Molecule Protocol: An open-source data ownership project helping users control, manage, and share their data.

The Rise of Podcast Shows

The AO team hosted two episodes of the "Hack and Tell" podcast, featuring in-depth conversations between Sam Williams and Teng Yan, as well as Phil Mataras. Additionally, the AO team plans to launch a bi-weekly Space series called DUH (Decentralized Underground Headquarters), where core ecosystem builders will share exclusive insights.

Apart from these, Arweave Oasis has launched its Tech Talk podcast, Weavers has introduced the WeaveCast podcast series, and both PermaDAO and ao builders also occasionally organize Space discussions.

Conclusion

December 23, 2024, marks the 300th day since the release of AO testnet, and the mainnet launch is less than 50 days away. As a relatively young ecosystem, AO still lacks significant market attention. However, if we roughly calculate the bridged assets at $600 million as the TVL of a public chain, according to DefiLlama data, AO has made it into the top 15, just behind Optimism. Regardless, AO has successfully attracted the attention of investors.

At the same time, AO's innovative architecture is gaining recognition, and the group of believers with high consensus continues to grow. Clearly, network data and wallet growth demonstrate that the ecosystem is becoming more vibrant. The success of projects like Dumdumz NFT and BENCAT ($BCAT), which have caused network congestion due to market frenzy, is a testament to this.

As the mainnet approaches, AO’s ecosystem resources are increasingly being directed towards developers. Through continuous hackathons and frequent launches of developer tools and platforms, AO has attracted a large number of new builders, fostering the rise of AI, DeFi, gaming, and Meme. Additionally, the ecosystem is starting to shed its "serious" image and embrace Meme culture. Conversational events (like podcasts) are becoming more popular, and projects are focusing more on content curation and product operations, with outputs becoming more diversified and high-quality.

In summary, the development of AO ecosystem in Q4 of 2024 can be summarized as: continuous growth, starting to stir things up, and localized bursts. Over 300 days of groundwork have laid a solid foundation for the mainnet launch and created fertile ground for the next generation of applications to thrive.


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Disclaimer: This article does not represent the views of PermaDAO. PermaDAO does not provide investment advice or endorse any projects. Readers should comply with their country's laws when engaging in Web3 activities.

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